$The central bank's reserve requirement ratio and interest rate cuts release 1 trillion yuan in liquidity, combined with signals that the Federal Reserve may shift toward easing (market expectations for a rate cut in September rise to 48.9%), driving funds into the crypto market as an anti-inflation asset.

- **Operation Strategy**: Accumulate Bitcoin on dips (support level to watch is $92,500), mainstream coins like Ethereum, to hedge against traditional financial risks. The Ethereum Pectra upgrade will increase the validator staking cap from 32 ETH to 2048 ETH, optimize Layer 2 performance (such as Arbitrum, ZKsync), reduce Gas fees, and attract developers.

- **Operation Direction**: Increase holdings of ETH, lay out Layer 2 ecosystem tokens (such as ARB, MATIC) and ZK technology-related projects. The US SEC, in conjunction with the EU, restricts leverage to 20 times, banning automatic margin calls, leading to increased volatility in centralized exchanges and a shift of funds to decentralized platforms (such as XBIT).

- **Response Measures**: Reduce leverage, use smart risk control tools on platforms like XBIT (such as dynamic staking rate adjustments), or hedge policy risks through the Bitcoin Volatility Index (XBIT-VIX).